Chamath Palihapitiya

Chamath Palihapitiya

Owner of The Golden State Warriors & CEO of Social Capital

THIS CHAT HAPPENED ON April 14, 2016

Discussion

Chamath Palihapitiya
Chamath Palihapitiya@chamath · CEO, SocialCapital
Hard questions only.
daniellevine
daniellevine@daniellevine · Fireside
@chamath, hard question: How can I convince you to come speak at an off the grid retreat for founders that takes place in the middle of nowhere between K/W, Toronto and Ottawa, focused on supporting Canadian startups this September?
Steven Pulver
Steven Pulver@stevepulver · Co-Founder, Fireside Conference
@daniellevine @chamath Yes, let's make this happen! Would love this!
danielgold1
danielgold1@danielgold1 · Sales hacking, SEO, Ottawa.
@daniellevine @chamath I'd drive up from Ottawa for this and since I'm from Ottawa and Chamath is from Ottawa that's like 3 upvotes.
daniellevine
daniellevine@daniellevine · Fireside
@danielgold1 @chamath there's a big movement of Canadians coming together (especially in the corridor region) to support our startup community. Would be great to have you at @firesideconf
Chamath Palihapitiya
Chamath Palihapitiya@chamath · CEO, SocialCapital
@daniellevine when? i'll seriously consider it...
daniellevine
daniellevine@daniellevine · Fireside
@chamath Sept 9, 10 and 11 (any or all of those dates). Let's do a real fireside chat. If you follow @firesideconf on Twitter I'll DM you the details.
Jak Tran
Jak Tran@jak_tran · Founder of FORUM an open messaging app
2-3 years ago, you said Bitcoin is a huge huge deal. How has evolved your point of view? Do you still believe in Bitcoin as a form of currency (gold 2.0) or are you more bullish on derivated technology like Ethereum?
Kingsong Chen
Kingsong Chen@kingsongchen · Dev
What are a few opportunities that excite you in old industries (government, insurance, etc.)?
Chamath Palihapitiya
Chamath Palihapitiya@chamath · CEO, SocialCapital
@kingsongchen If I had to rank some areas that are both incredibly difficult and meaningful, i'd come up with the following rough rank: 1. climate change 2. energy density 3. transportation 4. agriculture some more color: on (1) we have crossed the rubicon on climate. there is no longer an oppty to roll back the damage we've done by many accounts but rather minimize the damage. as such, i think it becomes critical for us to figure out what things we can do to help improve climate (ie genetically engineering trees to absorb carbon as an example) on (2) we need to fundamentally bend the current laws of energy density as we don't really have a deep understanding of new materials science or how we'd construct batteries and other forms of energy storage on a different price curve on (3) we need to eliminate the vagaries of driving on roads and allows us to think about transport as not just (x,y) but also (x,y,z) and in this case, it would, specifically mean vertical take off and landing of consumer transportation devices on (4) we won't have enough food to feed the entire population today and rather than focus on how to monopolize key inputs like water (which some very smart and rich people are doing) i'd like us to figure out how to dramatically improve yield.
Panashe Mahachi
Panashe Mahachi@panashemahachi
@chamath @kingsongchen it's funny that Elon is taking on 3/4 at once :P
Mariah Lichtenstern
Mariah Lichtenstern@lightedstar · Founder, CINESHARES
@chamath @kingsongchen HEMP is really good at absorbing carbon and does not deplete soil. It's also a great source of bio-fuel, paper, cloth, and plastic (Ford actually made a car of it once). Oh! Its seed is incredibly nutritious, too. Did I mention it grows almost anywhere? Unfortunately, beyond material construction, it can only transport mentally. Per Jack Herer's #TheEmperorWearsNoClothes
Let's say I'm an engineer with 2 years experience and interests in product, engineering, and data science. What role (pm, eng, or data) would enable me to learn at the fastest rate?
Colin James Belyea
Colin James Belyea@deleted-520219
I've been reading @alex_danco 's Emergent Layers posts- how does Social Capital fit into this? What scarce resource have you identified recently? for reference: https://medium.com/swlh/emergent...
Chamath Palihapitiya
Chamath Palihapitiya@chamath · CEO, SocialCapital
@colin_james_belyea @alex_danco The emergent layers construct, which i love, is an elegant way of helping us both understand the past and frame future potential. at social capital, we talk a lot about having a "prepared mind". what this means, for us, is having the ability to learn, slowly about potential ways of thinking about opportunities so that when we meet companies and areas of interest, we can jump on them quickly and be intellectually prepared to dig in and get to ground truth. emergent layers is really an extrapolation of how the OSI stack evolved and how we can use that to think about the value creation that has yet to happen and some areas that could potentially be interesting for us to focus on. there are a bunch of scare resources at this current layer that i am fascinated by: 1. trust - how psychologically we build meaningful connections and "trust" others 2. time - how we can spend and save what more and more people find to be their more precious asset, more important than money, reputation, etc. 3. capability - how software and/or hardware can increasingly improve the SLA and QOS of various tasks to a point where we have high predictability in critical capabilities. ie how a surgical robot can now find a tumor and excise it with no meaningful risk of collateral damage vs a human surgeon.
Panashe Mahachi
Panashe Mahachi@panashemahachi
How do you help the startups you invest in battle bureaucracy when trying to transform industries?
Chamath Palihapitiya
Chamath Palihapitiya@chamath · CEO, SocialCapital
@panashemahachi this is a really important question. there are two kinds of growth. rocketship growth --> monotonically negative growth thereafter OR steady compounding. transforming laggard industries will require an appreciation that the latter approach is the only path to success so being capital efficient and eliminating distractions from the rest of the silicon valley echo chamber are crucial. there is too much focus in silicon valley trying to recreate the magic of facebook or snapchat's rapid growth. i don't think these are replicable. the other kind of growth takes more discipline to appreciate, are more reliable over time and allow the building of durable companies.
daniellevine
daniellevine@daniellevine · Fireside
@chamath @panashemahachi where does this focus come from? Is it the entrepreneurs trying to emulate their growth, or the investors demanding it? Perhaps both?
Panashe Mahachi
Panashe Mahachi@panashemahachi
@chamath how would you balance the two kinds of growth if your product is in a laggard industry but benefits greatly from network effects?
Marcus A. Carey
Marcus A. Carey@marcusacarey · Investment Analyst, SVB Capital
How does 73-9 feel?
Chamath Palihapitiya
Chamath Palihapitiya@chamath · CEO, SocialCapital
@marcusacarey Abso-Fucking-Lutely amazing... :)
Paul Sondhi
Paul Sondhi@paulsondhi · Student
You recently said Social Capital was going to evolve from being just a venture capital firm. Can you give us more details on that? What type of products are you guys looking to build, if any? P.S. How difficult would it be to get to you to speak at NYU next semester? :)
Is an iOS and Android duopoly good enough? Will there be a third significant smartphone OS in the next 5-10 years? (I enjoyed your discussion with Kara Swisher about the facebook phone project)
Chamath Palihapitiya
Chamath Palihapitiya@chamath · CEO, SocialCapital
@mlipman1 I'm still convinced that the cloud is the ultimate threat to both iOS and Android. over time, if you have equivalence in the products across both platforms and that both of them enable light client experiences married to powerful cloud experiences, the next platform is really just a browser (ultra fast) on a "phone" with a really fast internet connection that gets you to these cloud services you rely on.
daniellevine
daniellevine@daniellevine · Fireside
@chamath @mlipman1 this sounds similar to the Chromebook strategy. Do you think that's the future?
danielgold1
danielgold1@danielgold1 · Sales hacking, SEO, Ottawa.
@daniellevine @chamath @mlipman1 In order for it to be the chromebook strategy they have to build a new superfast internet for everyone and they aren't trying to do that only to get the internet TO everyone.
Andy Toth
Andy Toth@andtoth · VC
Hey Chamath! One Q regarding the Automotive industry: Imagine you're the CEO of a 100yo premium carmaker. What would you focus on and do in order to become the TOP player in the next 10-15 years? Not only in terms of increasing sales and margins but entering/creating new markets as well. Thanks a lot!
Nik Sharma
Nik Sharma@mrsharma · Director of Performance Marketing, hint
Hi Chamath, thanks for doing a PH LIVE! Here's my hard question: With Facebook's recent announcements at F8, and incredible platform growth over the last 3-5 months, how would you have led the growth differently if you were still at Facebook? Would you have focused this heavy on video content across FB & Instagram? Also, what is your opinion on Facebook dropping programmatic advertising / becoming a DSP? Thanks! PS - would love to get coffee with you.
Chamath Palihapitiya
Chamath Palihapitiya@chamath · CEO, SocialCapital
@mrsharma I think facebook's strategy is solid but could use with a few doses of broadened scope. specifically, the most tactical improvement to the strategy would be viewing the user across a continuum of 24 hours. what i mean by this is that facebook is essentially a proxy for every internet user now. this said, their scope and scale are still bounded to the 2-4 hours per day that these internet users are at "play". i think broadening the scope to think about the user across their entire lifecycle per 24h day would drive another set of interesting, strategic bets at scale. ie how do you provide utility at work? how do you provide utility at sleep? how do you provide utility more broadly defined (while driving, at the doctors office, applying for a credit card etc.)... in the meantime, there are some big, bold bets that can happen within their current scope. i'd seriously thinking about buying a big game studio, buying a video service like netflix and bidding more aggressively for live content starting with sports.
daniellevine
daniellevine@daniellevine · Fireside
@chamath @mrsharma great answer. you talked a lot about this in your interview with Kara Swisher. I thought your point about Facebook purchasing apps that monopolize different hours in the day was insightful. How can they own the hours when people are at work? Would Slack be a good acquisition?
Ben Tossell
Ben Tossell@bentossell · Makerpad.co
Hey - what is the hardest question you've ever been asked?
Thomas Stöcklein
Thomas Stöcklein@tomstocklein · FoundersFundersFuture.com
What are some experiences/insights/skills you learned during your time at Facebook that you're applying to your work at Social Capital today?
Chamath Palihapitiya
Chamath Palihapitiya@chamath · CEO, SocialCapital
@tomstocklein here is a short list: 1. don't take your self too seriously 2. live your truth (be yourself and live authentically) 3. appreciate that 99% of this is pure luck and it could be some other schmuck who got lucky 4. do the right thing even when its the hard or unpopular thing 5. see #1
Thomas Stöcklein
Thomas Stöcklein@tomstocklein · FoundersFundersFuture.com
@chamath Great list! Thanks.
HARSHA
HARSHA@harshinde · another product loving geek
Could you shed some light on your framework/thoughts before deciding to invest in a startup? Is it the potential of the idea/founders, both, growth curve, etc? Could use Premise as an example.
Mahieddine Cherif
Mahieddine Cherif@mahieddinech · Software engineer
If real entrepreneurs (by definition) try always to innovate and find new ways to resolve hard problems, why most investors follow the "hot" topic, the "wave" and forsake the others? do they follow only the numbers ? the security ? do you ? if investors were like that in the late 19th century we wouldn't' have trains, cars, airplanes, internet...everyday we see a new chat app with 5+ millions funding just like that, every day a new emojii startup...seriously ?
Thomas Stöcklein
Thomas Stöcklein@tomstocklein · FoundersFundersFuture.com
Your alma mater, The University of Waterloo, is producing a disproportionately high number of YC grads and other tech entrepreneurs. What are the main reasons for this?
Chamath Palihapitiya
Chamath Palihapitiya@chamath · CEO, SocialCapital
@tomstocklein This is both the good and bad of canada. we are really smart, hard working but don't get much attention. so when US brands come to Canada and offer us attention, we generally gen enamored with it. at the same time, its important to appreciate that there has never really been an enabler for massive company creation. they tend to happen organically and the entropy comes from within. i am hopeful that this is a good step in the right direction which is to eventually give canadians the courage to jump in with two feet and start a bunch of ambitious companies...
daniellevine
daniellevine@daniellevine · Fireside
@chamath @tomstocklein "This is both the good and bad of canada. we are really smart, hard working but don't get much attention. " coudlnt agree more. Canadian startups need to come together and solve this problem.
danielgold1
danielgold1@danielgold1 · Sales hacking, SEO, Ottawa.
@daniellevine @chamath @tomstocklein Chamath, When are you starting your Canadian VC fund to invest directly into Canada to help solve this problem?
daniellevine
daniellevine@daniellevine · Fireside
Andy Toth
Andy Toth@andtoth · VC
Hi Chamath. Great to have you here! What do you think is the best way to improve the quality of discussion on social media in general and in comments during live video broadcast in particular? Thanks!
COSTAS ANDRIOPOULOS
COSTAS ANDRIOPOULOS@candriopoulos · https://medium.com/strictly-curious
Hi Chamath, how do you identify emerging trends and how do you pick ventures in nascent markets?
Haddon
Haddon@haddonfortes
Do Bots align with Social Capital's values and would you be an investor? How do you think bots will affect human communication skills development? Where do you see bots fitting in with our future and will Facebook be the market leader?
Keith Lennox
Keith Lennox@keithlennox · no
Can you talk about what the future plans are for Premise Data? I'm curious about what will come from the rapid data gathering abilities they are amassing with their army of data collectors. I know they are looking at food prices now but I would love to hear what you would like to see them expand to/continue doing.
Chamath Palihapitiya
Chamath Palihapitiya@chamath · CEO, SocialCapital
@keithlennox I think that there is a massive opportunity to build new kinds of IaaS (infrastructure as a Service) similar to AWS but different in the capabilities provided. In Premise's case, i think there is a lot of oppty to create a real time information marketplace where the infrastructure they provide is a) a massive cohort of data gatherers b) the ability to clean up said data c) the ability to get this done against various constraints like time or budget and d) the ability to rely on the quality and predictability of this over time. all of these, when abstracted into an elegant set of primitives can be used by many companies small and large who are interested in getting answers to any question they may have in order to run their organization more efficiently. and as the marketplace that facilitates all of this, Premise can build a massive and highly profitable company. this is why folks like myself, antonio gracias and larry summers are involved.
Craig Hunter
Craig Hunter@craighunter_ · General Manager, Ritual
How do you see self-driving cars actually shaking out - timelines, regulators, players? Who do you believe is best positioned to lead manufacturing, managing them, etc. Do you see any of the old guard surviving? What's the single biggest opportunity you see in this shift - where do you want to be involved?
Chamath Palihapitiya
Chamath Palihapitiya@chamath · CEO, SocialCapital
@craighunter_ I think that self driving cars is closer to being a reality than many people expect. i am willing to put the following predictions out there: 1. there will be lawsuits brought by families of victims of vehicular manslaughter to bring level4 autonomy to the forefront sooner vs later 2. within 5 years, we will have level4 autonomy on the highways of many (if not all states) 3. within 10 years, we will have regulatory bodies (similar to medical ethics boards) that propose broad based decisions for the various car manufacturers to implement (ie crash into a school bus or into a group of seniors) in all of this i think TSLA and GOOG are in the biggest lead with TSLA being further than anyone. i also think that most of the old guard won't survive. the biggest economic oppty in all of this is probably owning TSLA and shorting the traditional car companies (ie a multi billion $ bet) in another 24-36 months once we have a precise time to market for level4 autonomy. i think a big open question is what the ride sharing companies do in this shift because as i see it, and if i were TSLA or GOOG, i would not license any of this extremely difficult technology to anyone including the ride sharing companies so that as the shift happens, they can launch their own services and compete in ride sharing via an autonomous fleet.
Jak Tran
Jak Tran@jak_tran · Founder of FORUM an open messaging app
Did you get interesting deals so far thanks to your "eightball"?
Patrick M. Hodgdon
Patrick M. Hodgdon@patrickh · Storytelling & Go-To Market Strategy 💡🚀📈
@Chamath What was the most significant experience good or bad you had during your time at Facebook?
Patrick M. Hodgdon
Patrick M. Hodgdon@patrickh · Storytelling & Go-To Market Strategy 💡🚀📈
@chamath More fun for you, watching @StephenCurry30 throw up 💯💯💯💯 👌s OR taking down a huge poker hand that includes at least 10 stacks of @Jason's high society?
Jak Tran
Jak Tran@jak_tran · Founder of FORUM an open messaging app
What is your take on Net Neutrality? Do you stand on the side of Facebook or India concerning the Free Basic issue?
Jak Tran
Jak Tran@jak_tran · Founder of FORUM an open messaging app
Great values have been brought to mankind by people who didn't expect enormous financial return from their inventions (Tim Berners-Lee, Jim Whales, Linus Torvald, Ray Tomlinson, Satoshi Nakamoto...). They have created value and important infrastructures but more than that they opened opportunities to others to create businesses. What do you think about them? Were they too naïve for not trying to make money? Would you support people who go in this direction?
Charles Kunene
Charles Kunene@charles_kunene · Co-founder & Product Designer @Obaa
In your interview with Recode, you mentioned how much you've changed since your Facebook days. What moments/decisions do you regret and wish you could change?
David Gold
David Gold@gavid_dold · Currently @dropbox, previously @citi
@chamath I'm graduating soon and starting a career in capital market origination in a few months. I love finance, but my real passions lie within venture capital and start ups particularly in tech and healthcare. What advice do you have for somebody trying to make their way into that arena? Btw, congratulations on the wins record.
Charles Kunene
Charles Kunene@charles_kunene · Co-founder & Product Designer @Obaa
What compelled you to purchase a stake in the Golden State Warriors, and why were they a better fit for you relative to other teams?
Chamath Palihapitiya
Chamath Palihapitiya@chamath · CEO, SocialCapital
@charles_kunene I was originally trying to buy the sacramento kings and potentially move them to seattle. this didn't come to pass and after a trip to nyc meeting with then commissioner, david stern, my friend phil hellmuth invited me to watch the ncaa tournament at joe lacobs house. he had recently purchased the team and was looking for another major investor who could invest at least $25M and would join the board. so i did. it has turned out to be a huge success to say the least but i'm really glad i did it a) because i wouldn't have been able to focus on this had i been the lead buyer of the kings and b) it turned out to be much more fun to be part of an ownership group in your home town so you can just drive to games.
Hope Atina
Hope Atina@the_onlyhope · BioBreaks.com
What's your definition of a hard question?
Andrew Ettinger
Andrew Ettinger@ettinger · 👟 @wearAtoms // ex @Twitter @ProductHunt
If I was a betting man, I'd say that your Re/code Decode episode is the frontrunner for @goldenkittymeow podcast of the year! Great episode. That's all.
Ryan MacInnis
Ryan MacInnis@rkmac · Director of Marketing, Voysis
When it comes to business and sports, how involved are you with your players? Many of them, like Curry are breaking into the entrepreneurship and venture spaces. Do you help them, advise them or talk shop about that stuff off the court?
aracena
aracena@aracena · Learning.
Hi Chamath. You always talk about getting the user to the "Aha moment" as fast as possible, what do you think it is the "aha moment" for online learning? have you seen any good examples? thank you
Waqas Ali
Waqas Ali@waqasali · making a shoe that’d fit 👉🏻wearatoms.com
Hi Chamath, two questions: a) Why you think some of the best founders/ideas (pressing problem, real impact on the long-term) don’t get lot of support in SV and if you were a founder today how would you approach to build your company in early stage ($+team)? b) What is your shoe size? PS. Love that you spend time in Sri Lanka and India!
Dylan Qian
Dylan Qian@dylan_qian
What is the most valuable thing you think college gives you?
Thomas Stöcklein
Thomas Stöcklein@tomstocklein · FoundersFundersFuture.com
How do you balance work and family life?
Chamath Palihapitiya
Chamath Palihapitiya@chamath · CEO, SocialCapital
@tomstocklein i don't try to balance it. rather, its pretty interwoven. some weekends i work. some weekdays i blow off to hang out with my kids. i take larges stretches of time off when i can. i work large stretches of time when i have to. rather, i try to focus on the quality of my interactions at both home and work and whether i am having enough of those in semi-regular intervals. i am also fortunate, however, in that i am in a position to give this answer. this isn't true for a lot of people and as such, i wouldn't want to offer this as some kind of path for others.
Damien Hoffman
Damien Hoffman@mindfire360 · Founder/CEO Cheat Sheet
@chamath Do you have any sacred daily ritual such as you always eat breakfast or dinner as a family?
Ravi Vadrevu
Ravi Vadrevu@raviformative · Autonomous Hiring Intelligence
I've been following you for quite some time and had two questions: 1. I observe that most of your decision making go by numbers and following patterns. Were there any instances that your calculation was wrong and that you have felt like going with your instinct or gut? 2. How do you balance pressurized situations in life? Whether it's about a critical deadline or convincing someone to invest in you for your next fund. Would love to hear!
Hope Atina
Hope Atina@the_onlyhope · BioBreaks.com
Will the "(old industry ) + (new tech) = $$" formula run out in the next 15 years, or ever? If so what will be the new formula?
Hope Atina
Hope Atina@the_onlyhope · BioBreaks.com
How do you currently keep up with emerging and fringe technology in markets/industries that interest you? And how would you do so if you were a student with less "deal flow"?
Hope Atina
Hope Atina@the_onlyhope · BioBreaks.com
What is the least sustainable aspect of the Warrior's organization (i.e. would prevent them from repeating next year) that is most critical to its success?
Arjun Ram
Arjun Ram@arjunram · Tinkering Past:Investor & Product leader
If you could to rebuild healthcare in this country - Where and what would you invest/build?
Hope Atina
Hope Atina@the_onlyhope · BioBreaks.com
New social technologies increase human interaction by volume, access, and sometimes quality. How do you balance the thought of investing in companies whose product's long tail may lead to unpredictable negative behaviors? Do you believe there will be a transition from tech for problems towards "tech for good" (directly improving the values/morals of individuals)?
Hope Atina
Hope Atina@the_onlyhope · BioBreaks.com
What key metrics help you determine whether your capital is helping society? What are the standards you compare them to and why do you believe they are valid?
Shane Stewart
Shane Stewart@shane_stewart
Is there anything you've ever regretted being outspoken on?
Chamath Palihapitiya
Chamath Palihapitiya@chamath · CEO, SocialCapital
How do you envision the gig economy for highly specialized work (e.g. hourlynerd, crew, upcounsel) evolving over the next 5 years and why is/isn't that space of interest to you?
Jak Tran
Jak Tran@jak_tran · Founder of FORUM an open messaging app
Would you buy the most famous french soccer team "Olympique de Marseille" for "100M" They are looking for a new owner :p
Chamath Palihapitiya
Chamath Palihapitiya@chamath · CEO, SocialCapital
@jak_tran I would consider buying something in EPL but not in France. I've also looked at buying a team in Italy but didn't like the economics there. more generally, since my positive experience with the warriors, i'd love to invest 5-10% of my assets in these kinds of offline experiences like sports, food or live entertainment.
Mike Eidsaune
Mike Eidsaune@eidsaunempire · CEO, Co-Founder @Carely
@chamath such a badass answer.
Emily Snowdon (née Hodgins)
Emily Snowdon (née Hodgins)@emilyjsnowdon · Operations @ Product Hunt
Hi Chamath thanks so much for being here today. What 3 things should every new founder constantly be thinking?
Hope Atina
Hope Atina@the_onlyhope · BioBreaks.com
Considering your humble upbringings how do you stay grounded? Restated, how much time should be spread between chasing the future as a VC versus partaking in the normalcy necessary to gauge the gap-diminishing companies?
Emily Snowdon (née Hodgins)
Emily Snowdon (née Hodgins)@emilyjsnowdon · Operations @ Product Hunt
What life moments have helped shape the way you approach decision making?
Hope Atina
Hope Atina@the_onlyhope · BioBreaks.com
Why isn't more being done to innovate on education .... within the home (parenting)?
Chamath Palihapitiya
Chamath Palihapitiya@chamath · CEO, SocialCapital
@the_onlyhope I think there is a lot going on to improve the state of education. this said, i also think that because we haven't yet seen a major financial outcome in startup education that the funding cycle is still stunted relative to what it can and should be. as such, the innovations are slow and infrequent. with a few more visible wins, education will attract the same caliber of entrepreneur that other areas with measurable upside have and then the cycle of innovation will accelerate. with respect to what is happening in the home, i am not sure that this is the right answer. this is a symptom of the real problem, in my opinion. if we need a lot of at home parenting involvement then we need to question the quality of whats happening for 10 hours each day at the school and in the classroom. in my case, anecdotally, my parents had no time to help (nor could they tbh because of their educational level) during my primary/middle/high school years in canada. this said, the system was very good and reliable so they didn't really have to. if we assume that there can and should be a lot of parental involvement, i think it actually speaks to a breakdown of quality and capability of the school which should be fixed in some other way.
Jak Tran
Jak Tran@jak_tran · Founder of FORUM an open messaging app
What Social Capital brings to a startup that other VC firms don't bring ?
Nacho Basaldúa
Nacho Basaldúa@nacho_basa · renovatuvestidor.com
Have you invested in Latin American startups? Could you consider it or are you close to the US?
Shaun Modi
Shaun Modi@shaunmodi · Designing for Product Hunt and TM
@chamath Thanks for doing the live chat today! How do instincts and gut feelings influence your investment decisions? How do you balance these feelings with data when making the final call about whether to invest in a company?
Shubham Datta
Shubham Datta@shubham · Working with startups @SurePathCap
What's your take on the latest emergence of bots and AI/Machine Learning?
Matt
Matt@matt_insomi · Individual Investor
What do you think about the Industrial Internet of Things?
Steve Amara
Steve Amara@steve_amara
Hi @chamath - I just moved back to my home country Cameroon from London and start to realise how hard things are when you're not in the West: apps not available in the app/play store (Flickr, FB Lite), content sites behind multiple captchas (eg Medium), product blocked in the country by the maker (eg Weebly)... Talented folks from here don't even have a chance to show what they know or are worth on the Internet, supposed to be the equaliser by excellence… So how do we make the Internet a truly equal playing field for all, so everybody can at least get a chance?
danielgold1
danielgold1@danielgold1 · Sales hacking, SEO, Ottawa.
@chamath I see a lot of rockstar startups scale their human resources incredibly fast. Can you provide some insight into how they accomplish this incredibly difficult task so efficiently, Excluding the fact that some of their VCs help them.
Patrick M. Hodgdon
Patrick M. Hodgdon@patrickh · Storytelling & Go-To Market Strategy 💡🚀📈
@chamath Are you long on @hyperlooptech and do you think it could/will have a bigger impact on moving people or cargo in the long run?
Thomas Stöcklein
Thomas Stöcklein@tomstocklein · FoundersFundersFuture.com
Which NBA players are on your wish list for the Golden State Warriors?
Zuhayeer Musa
Zuhayeer Musa@zuhayeer · student @cal building things
What are some key things to avoid as an early entrepreneur?
Victor Gonzalez
Victor Gonzalez@victor_gonzalez · Victor Gonzalez
Chamath, Which event in the near future will you attend in the Bay Area? So I can pitch my company exclusively to you. THANKS.
Tyrel Johnson
Tyrel Johnson@tyreljohnson · Entrepreneur
When investing into a company, which of the following influences the decision more? 1) Your trust in the founder being able to execute the idea successfully. 2) The brilliance of the idea, and how it fills a need.
will lucas
will lucas@will_lucas · CEO, Classana + Host, of10podcast
What should a startup team (pre-rev) do with potential Angel's who want them to put up collateral?
Luke Thomas
Luke Thomas@lukethomas14 · Growth at Crystal. I build stuff too :)
What's the update on Rama/spectrum auction?
Imran Ghory
Imran Ghory@imranghory · Partner at Blossom Capital; ex-Index
Do you see your value as being a value-add investor (i.e you'd invest in startups that other similar calibre VCs would but you'll be more beneficial for the startups) or rather in investing in startups that other VCs wouldn't; and if the later case what do you believe that other VCs don't that causes this difference ?
Chamath Palihapitiya
Chamath Palihapitiya@chamath · CEO, SocialCapital
@imranghory whether you go through an incubator or a traditional VC, the biggest question that i see founders abdicate is "why should i listen to you?" at the end of the day, there are a lot of people a) playing startup b) playing investor c) playing experienced operator. its important that we don't end up in a huge case of "the blind leading the blind". i see that a lot. people who have never built anything successful or done anything meaningful passing along advice as if its gospel only to be followed blindly by young founders who assume that these people know what they are talking about. prosecuting not just the style or reputation of the source but also the experience base is crucial. "why is this person credible when they give me advice?" i wish more people would ask this question before deciding who to work with.
Nirmal Raj S
Nirmal Raj S@nirmalrajs
How should I prepare myself before starting up?
Chamath Palihapitiya
Chamath Palihapitiya@chamath · CEO, SocialCapital
@nirmalrajs don't prepare. pray. then jump.
daniellevine
daniellevine@daniellevine · Fireside
@chamath @nirmalrajs ... basically, prepare to be unprepared :)
Ian
Ian@ianrountree · Founder, Cantos Ventures
@chamath Who's going to buy all of the Slack bot startups?
Ian
Ian@ianrountree · Founder, Cantos Ventures
What % of S23P's portfolio companies came from your immediate network?
Mike Eidsaune
Mike Eidsaune@eidsaunempire · CEO, Co-Founder @Carely
Hard Question: You've only got $3 Million remaining to invest for the next 5 years and you have 3 companies pitching you. 1st company is AR/VR, 2nd company is FinTech, 3rd company is Age Tech/healthcare. Each company is post-seed and has healthy metrics. You have to invest all $3 million, how would allocate the $ across the 3 companies? What's driving that decision?
Nathan Guo
Nathan Guo@nathan_yg · VC Intern at Lux Capital
Hard question: 1. How much of other firms' venture outcomes do you attribute to luck v. skill? How much are your own? 2. Can you be successful in venture without a gigantic network (I.e. Can you succeed without focusing on the sourcing side?)
Shane Stewart
Shane Stewart@shane_stewart
It seems that the future of healthcare is preventative medicine ; how can we start encouraging family members and the rest of society to start giving a shit about their health?
Chamath Palihapitiya
Chamath Palihapitiya@chamath · CEO, SocialCapital
@shane_stewart I think your answer is in your question. when i think about one of the biggest things i should have done better was be more knowledgeable about diabetes and then push my dad to get his diabetes in control. he ultimately passed away because of a cardiac arrest brought on as a complication of diabetes. as a result, however, i am now pretty vigilant about my a1c and glucose levels in general. the generalization of this is that as we democratize medicine by creating simple tools and services that allow people to understand their bodies in more detail, we can also engineer the right amount of social pressure by including their loved ones in this process. as such, even when you are not invested in managing your chronic disease, your employer, provider, payer or loved ones can be. this isn't well handled today and many people, faced with the daunting task of managing what is the equivalent of a death sentence, give up and let themselves decay. but when there are pools of people who are helping along the way, the evidence is that disease states improve meaningfully. i suspect that as this happens at the "bottom of the funnel" those same people helping a loved one probably take care of themselves a bit better as well and then the "top of the funnel" can also slowly improve.
Mike Eidsaune
Mike Eidsaune@eidsaunempire · CEO, Co-Founder @Carely
@chamath @shane_stewart "we can also engineer the right amount of social pressure by including their loved ones in this process" - This is where my company sees the huge opportunity!
Patrick
Patrick@woloveck · Founder, Saleswami
@chamth, how do you recommend startups figure out their one metric that matters? For example, Facebook that was x# of friends, for Slack it is 2000 messages, etc. Then how do they act upon that for growth?
Charles Kunene
Charles Kunene@charles_kunene · Co-founder & Product Designer @Obaa
With respect to foreign founders; while Canada, Britain and a few others have welcomed the introduction of the 'Founder Visa', why is immigration such a polarizing issue in the U.S.? What steps can be taken to give foreign founders a much more straightforward immigration process?
will lucas
will lucas@will_lucas · CEO, Classana + Host, of10podcast
What do you need to see to fund a web startup pre-revenue these days?
David Senra
David Senra@readbydavid
What are some of your favorite books?
Damien Hoffman
Damien Hoffman@mindfire360 · Founder/CEO Cheat Sheet
Chamath, how do business builders trench a moat when it's easier than ever to copy what was once too hard to copy?
Cathy Lee
Cathy Lee@cllckwrko · Web Developer, Colorado State University
Learning to program is hard, learning to program as a non-native English speaker I imagine is even harder. Would you encourage the growth of non-English based programming languages as a means of equalizing this asymmetry?
aracena
aracena@aracena · Learning.
How was typical test or experiment at facebook? how were your iterations and how long did they take?
Gabriel Song
Gabriel Song@gabsong · Product Manager
Do you have any investments in #3 - transportation, and have you seen any meaningful technologies in doing (x, y, z) transportation at scale? Also, what trends or signals are you seeing in this industry that are shifting, besides autonomous, car sharing, and electric propulsion?
chonil
chonil@chonil · GiG Interactive
@Chamath Do you think Sri Lanka has what it takes to be the tech hub of asia? With the new unstable gov and the constitutions and corruption? I understand there are a lot of key areas which needs to be tackled, but still it seems growth is pretty stagnant. What do you think?
Andrew Brackin
Andrew Brackin@brackin · Growth at Visor
Has your stance on Apple changed at all? Also your bullishness for Android killing iOS.
Alaa Halawa
Alaa Halawa@techalaa
@chamath Investments in Industrial IOT is picking up pace with corporate investors such as Intel and Qualcomm coming strong in this sector. Do you see Venture Capital firms focusing on this segment?
Mohak Bhambry
Mohak Bhambry@mohakbhambry · CEO-Voice Verso & Smart Cities Wheel
We are a tech Startup that is building, designing & sustaining Smart Cities, what in future you believe the new age intelligent cities would look like? And, if any sort of guidance/advice for us to leap that future?
Josh Puckett
Josh Puckett@joshpuckett
What would you consider your biggest lesson learned through failure in the past, and how will you avoid that in the future?
Mike G
Mike G@lamikeg · Developer @Beachmint
Do you still believe Bitcoin will make an impact? Will Sri Lanka play a role in it's adoption? 4 billion dollars in remittance every year is flowing into the country.
Mike G
Mike G@lamikeg · Developer @Beachmint
Do you play fantasy football/basketball? Would you invest in a startup that would be a Fanduel/DraftKings competitor?
Dashell Laryea
Dashell Laryea@dashlaryea · Designer
1. Please explain why VCs are pursuing different corporate structures; 2. How is SC leveraging the Future List (ie equity as a factor in investments); 3. What is the best argument not to go into venture capital.
Jai Hari Rajendran
Jai Hari Rajendran@jaihariind · Tech Development Manager, OkState
What new did you learn from your recent trip to Asia?
Mike G
Mike G@lamikeg · Developer @Beachmint
What's the coolest thing about being an owner of the Warriors? Do you got a championship ring at the crib?
Mike G
Mike G@lamikeg · Developer @Beachmint
What's the most overhyped tech out there? AI, drones, 3d printing, Bitcoin... ?
Hard Question: If you were to be just starting in tech now, what companies would you bet your career on?
Rishi Shärma
Rishi Shärma@irishisharma · General Manager, Q-See
What is the one big opportunity that you feel Facebook is completely dropping the ball on ?
Kela
Kela@zabimaru_ichigo · Founder at Mailhaven
Hi @chamath you listed climate change as a priority in your earlier response. The logistics and delivery industry are fast growing and will keep growing along side eCommerce. However there are inefficiencies in this industry that cause a lot of pollution I.e. Missed deliveries and redelivery of packages (2 billion attempts annually in North America). What role do you think automated reception of goods (not needed a person to be present to make a successful delivery) have to play in cutting down emissions related to delivery/last mile? And how much pressure needs to be put in this industry to embrace cleaner innovation?